A few weeks ago we got wind of a good deal in Kansas City, which we decided to write about as it happened to give our readers an idea of how these things play out. After exchanging some details and preferences with the vendor, this deal seems to be getting closer to fruition. The place in question is a two-storey house on a large block in a decent neighbourhood that we can acquire for $23,000. It needs some $15,000 work and is pretty run down. The idea is to transform this place into a top and bottom duplex and let out each one for between $500 and $600 per month, giving a net return in excess of 25 per cent. The main obvious risk we saw was a blow out in the reconstruction and modification costs, but in this case the contractor has agreed to a fixed price of $15,000 and guarantee the work for a year, as well as remedying any defects that arise in a building inspection. Contracts are yet to be signed, so it's all talk for now, but is certainly looking like another promising deal.